In a statement, Motricity said Fong previously worked at Atrinsic Inc., a direct-to-consumer Internet search-marketing company, where he served as chief financial officer and interim chief executive officer.

Motricity suffered more than a 90 percent loss in market cap in the past year. Shares took a big drop last summer, tumbling to less than $2, from more than $9, in the space of two and a half months. Shares are now trading at around 72 cents.